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Technology Stocks : EZchip Semiconductor
EZCH 25.490.0%Feb 23 4:00 PM EST
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From: Tartuffe11/5/2015 10:04:51 AM
5 Recommendations

Recommended By
Dave01
Eyalro
EzStinger
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profstok

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"In the event that EZchip accepts a higher bid, the expense associated with terminating the transaction with Mellanox is $28.4 million, or 3.5% of the $811 million equity valueThis is consistent with the standard break-up fee for public company transactions of comparable size, as Raging stated in its letterEZCHIP HAS NOT BEEN APPROACHED BY ANY OTHER POTENTIAL BUYER willing to pay a higher price for the Company"

The 28.4 million penalty is in effect ONLY if another bid comes before the transaction goes through. If the shareholders vote NO and the merger is blocked, the 28.4 million penalty NO LONGER APPLIES to any company that makes a bid after the deal has been voted down. No one is going to make a bid until the deal is voted down.

This press release is deceitful, and makes management look desperate.
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